Campari Buys Jamaican Rum Maker

By

Manuela Mesco

Sept. 3, 2012 1:08 p.m. ET

MILAN—Gruppo Campari SpA, maker of the iconic red Italian spirit, Monday became the latest European drinks maker to snap up a local producer in the Americas with the acquisition of Jamaican rum maker Lascelles deMercado & Co.

The Italian company has acquired 81.4% of Lascelles, whose brands include Appleton Estate, Wray & Nephew and Coruba, from Trinidad and Tobago-based conglomerate CL Financial, and plans to buy the rest by the end of the year. The entire deal will cost $414.8 million and should lead to a profit...